Centre Asset Management LLC Acquires 35,560 Shares of Apple Inc. (NASDAQ:AAPL)

Centre Asset Management LLC lifted its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 30.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 153,663 shares of the iPhone maker’s stock after buying an additional 35,560 shares during the period. Apple accounts for 5.6% of Centre Asset Management LLC’s investment portfolio, making the stock its biggest holding. Centre Asset Management LLC’s holdings in Apple were worth $21,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares during the last quarter. State Street Corp grew its stake in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares during the last quarter. Geode Capital Management LLC grew its stake in Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after buying an additional 4,456,954 shares during the last quarter. Norges Bank purchased a new position in Apple during the 4th quarter worth approximately $25,228,507,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after buying an additional 1,155,915 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Monday, September 12th. Wedbush lifted their target price on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Wells Fargo & Company lowered their target price on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Evercore ISI lifted their target price on Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Finally, Morgan Stanley lowered their target price on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.52.

Apple Stock Performance

NASDAQ AAPL opened at $150.70 on Friday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The business has a fifty day moving average of $159.65 and a 200-day moving average of $156.09. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. Apple’s dividend payout ratio (DPR) is 15.18%.

Insider Transactions at Apple

In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.